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I agree that the Case-Shiller index is a joke. That said, why doesn't NAR make that point to the media and get them to use data from the other 3 reputable sources, themselves included, that support each other and draws the same conclusion?
I am surprised that Inman news would publish the statistics from the Case-shiller Index. It is so skewed it it worthless. Come on you guys...the national housing market is not determined by 8 states real estate activity and the data of 20 markets in those 8 states. It is such a dis service for this information to be published. Why don't you ask Mr. Shiller about his relationship with the Chicago Mercantile Exchange and the fact that his index is used to hedge housing futures values. Even the Wall Street journal and Realtrends have picked up on the farce of their data. How about data that has not been hand picked using specific market areas and specific property types and specific transaction types?
HMMMM...let's see if i have this right. Some newspapers are claiming it is a bad time for buyers to buy, but prices are down in almost every single market in America. So newspapers, is it better for buyers to buy when home prices are higher? If the newspapers point is directed to the investors looking to flip, then they should say so. If not, they need to find something that they understand to write about. Pretty simple. Homes carry a utility value and all the other greater benefits of home ownership. The media needs to quit looking at homes like they are some kind of stock and let homebuyers buy for the right reasons. They need a place to call their own, raise a family, build a life and reap some significant tax benefits AND BUILDING LONG TERM EQUITY so when they retire, they won't have to worry about a roof over their heads.